NATIONAL PAY DAYS.

Poverty Bay Herald, Volume XIV, Issue 4769, 21 January 1887, Page 4

NATIONAL PAY DAYS.

Tug American Government has collected, through its variou-i consuls, the following as the systems of credit in various countries : — Germany has the most developed credit, the buyer 3 getting to a great extent their own terms, and it being, as in England and France, various in different trades. — England, as a rule, three months from date of invoice. — France, four months' bill from date of invoice. — Italy, very lifc-.le credit, and for that security is required. — Spain, four-fifths of the accounts are paid by cash. — Portugal, considerable credit is generally asked and given. — Austria, business can hardly be done without at least six months' ctedit. — Turkey, everything, even the necessities uf life are sold on credit. — Russia, twelve months' credit is not uncommon. — Canadaj payment in thirty days, less b per cent. ; in many cases three and six months' credit is given, without discount.

— Mexico, the large firms give willingly six and eight months' credit, and even shopkeepers let accounts run a long time. — Costa Kica, to obtain a ready sale, six or twelve months' credit used to be insisted upon, but as so many bad debts were incurred, less is becoming usual. — Cuba, as a rule, a prompt day is fixed at for or five months from date of invoice. — Riode Janeiro, and Buenos Ayres, very little business is transacted with less than six months' credit. — Bermuda, as a rule there is a general prompt day once a year, usually Juno 30. — Asia Minor, two or three weeks' credit is the rule. — China, as a rule there is litfclo or no credit ; the money to pay for goods being often borrowed at eight to twelve per cent. — Australia, six months credit is not unusual. — United States, as in Canada, thirty days with five per cent, discount was the rule, but of late it is getting extended. The tendency in France and England is toward longer credit, and in Germany toward less although a large number of German firms will only buy for payment by threw months' bills.